2 Bed Apartment in Bethelsdorp

A once-in-a-lifetime opportunity for an investor/developer: Property Company for sale with Riverview Apartments (8 completed and fully rented apartments with river views) and Development Land for further development of another 18 apartments in Tiger Bay, Port Elizabeth. No transfer duty is payable. This is a VAT Inclusive sale.

Price Negotiable for a serious, committed Buyer.

Apartments

Four double-story units were built three years ago, with a Northerly orientation and low maintenance face brick and aluminum windows & sliding doors (8 built apartments in total). Fully tenanted right now. Each apartment with its own unspoiled view of Tiger Bay, and Swartkops River.

Each apartment consists of 2 bedrooms, 1 bathroom, and an open-plan kitchen and living room. Each apartment is +/-57m2. Solar geysers installed. Undercover parking is provided.

Current rental per apartment +/- R5000 per month.

Development Land

Approximately 3000m2 of undeveloped land with approved plans for a further 9 double-story, 2-bedroom apartment units (Extra 18 apartments for future development).

Total erf size including the 8 apartments is 4842m2.

Conditions of Sale

Apartments and Land to be bought as a unit in one sale agreement.

No Transfer duty. This is a VAT Inclusive sale.

Looking for serious investors who want income-generating properties from day one with land to expand.